On 15 June, an email from Srikanth Meenakshi, co-founder, and chief operating officer of FundsIndia, went out to the 330 employees at the online mutual funds distribution company. It confirmed a rumour that had been doing the rounds for a week. That the board was asking Meenakshi to leave the company. The company he and his co-founder, CR Chandrasekar, founded 10 years ago.
“Dear all, I wish to bring to your notice that the board members of our company (Wealth India Financial Services Pvt Ltd) are trying to take control of the company, much to the detriment of founders, employees, and customers,” Meenakshi wrote.